A New Workforce: Why Franchising is a Great Fit for Millennials
The Entrepreneur’s Source shares reasons millennials should consider franchising; hosts “Start A Business Weekend” virtual franchise expo May 14-16
May 14, 2015 // Franchising.com // Southbury, CT – As the millennial generation is on track to become the largest generation in the workforce, today’s graduates face a hypercompetitive, oversaturated job landscape while also carrying record-high student loan debt. Considering the unique benefits that franchising allows and the differing expectations of this upcoming generation, The Entrepreneur’s Source – the nation’s leading alternative career coaching company – offers reasons why franchising is a good alternative career route for millennials:
- Flexibility: Work-life balance is more important to the upcoming generation of working Americans than ever before. Work is progressively more integrated into life outside of nine to five because of evolving technology, so the millennial generation expects their employer to be flexible and, in some cases, to allow them to make their own hours. Because a franchisee is his or her own boss, franchising offers franchisees the unique ability to set their own hours. Additionally, there are a wide variety of franchise concepts that offer different business hours or even seasonal business opportunities.
- Education: As a college education is becoming more important to maintain a middle-class lifestyle, the millennial generation is increasingly well-educated. Franchising offers millennials the opportunity to use what they learned while earning their college degrees, but there are also support systems put in place by the franchisor to educate their franchise partners on how to best run the business. With willingness to learn and determination to successfully run a business, even young franchisees are set up for success by their franchisor.
- Varied Investment Cost: While some millennials may have the option for financial backing from their baby-boomer parents, many have student loan debt or limited funds available. There are hundreds of different franchise brands in many industries with widely varying start-up costs. Some involve a significant initial investment; but home-based, business-to-business concepts can be more affordable.
- Unlimited Earnings Potential: Within most corporate structures, an employee can only go so far in terms of position and earnings potential. This is not the case with franchise ownership – almost any concept can be grown to the next level. It’s not uncommon for people to start off with one unit and expand to two or three units or become area or master developers. The sky is the limit when it comes to growth and earning potential.
“Millennials are often cited as change agents – they want flexible hours and meaningful work and strive to enter into leadership roles early in their careers,” said Terry Powell, founder of The Entrepreneur’s Source. “Franchising is a great way for this young and ambitious generation to get the work experience they want, while also earning the money they need to pay off their record-high student loan debt.”
For those in any generation entertaining the idea of business ownership and looking to explore what options are available, The Entrepreneur’s Source is hosting a complimentary, virtual career expo. The Start A Business Weekend® (SABW) expo takes place May 14 - 16, 2015, and gives attendees the opportunity to explore a variety of franchise opportunities and speak with a coach to discover if franchise entrepreneurship is the best path toward self-sufficiency. Registration is free at www.StartABusinessWeekend.com.
For more information about The Entrepreneur’s Source and pursuing franchise entrepreneurship as a second career, visit www.entrepreneurssource.com/.
About The Entrepreneur’s Source®
The Entrepreneur’s Source is North America’s leading alternative career coaching franchise dedicated to the entrepreneur, with more than 150 offices in the United States and Canada. Dominating the $1.5 billion dollar Business Coaching/Consulting franchise market in North America, the company offers a full range of services to individuals seeking alternate career options and to franchise businesses looking to increase performance. For more information about The Entrepreneur’s Source, please visit http://www.EntrepreneursSource.com/.
The Entrepreneur’s Source, Start A Business Weekend and ILWE are trademarks of TES Franchising, LLC. All rights reserved.
SOURCE The Entrepreneur’s Source®
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